Center Plaza grant request, 2004?

Center Plaza Grant Request City Request • The Downtown Partnership of Baltimore, a business improvement district funded by an additional property tax assessment, is seeking $2 million in MTA/MDOT support for the renovation of Center Plaza. The City owned plaza, which was built in the 1960’s as part of the Charles Center renewal project, has seen several minor “facelift” improvements over the years. It is located in downtown Baltimore on the north side of Fayette Street between Charles Street and Liberty Street. Background • Several of the high-rise office and residential buildings abutting the Plaza are owned by a real estate subsidiary of Peter Angelos. The headquarters of BGE/Constellation Energy is at the northwest corner of the Plaza. Johns Hopkins Downtown Campus and the Wyndham Hotel are opposite the Plaza on the south side of Fayette Street. • Approximately $75 million in private investment is Occurring in these properties immediately adjacent to the plaza. • Fayette Street is a major westbound bus route and transfer point in the bus system. Nine bus routes cross Center Plaza making approximately 675 stops per day. • At the request of Westside Renaissance, Inc., MTA renovated the three existing canopy shelters in 200 1 at a cost of approximately $62,000. Proposed Renovation Program • Downtown Partnership, in cooperation with the City, has taken the lead in a re-design of Center Plaza, to make it a more inviting public space to be used for passive recreation, lunch-time and after-work events, etc. Downtown Partnership sees the Plaza as a key link between the downtown and the Westside Renaissance area, particularly the Lexington Market/Howard Street area. It is the focus of pedestrian movements linking these areas. • Funding for the project is uncertain. It appears that with or without the Plaza renovation, the City will still have to make some infrastructure improvements related to water-leaks into the underground parking garage at Center Plaza. Additional public and private funds are being sought. • The current cost estimate for the project is $5 - $5.5 million (construction cost). Possible sources of funding include: - $1.5 million - $2.0 million in private sector contributions (from Peter Angelos. David Hillman, and the Downtown Partnership;